UK construction firms subject to more credit checks than any other sector | Sunsquare Skylights
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UK Construction Firms Subject to More Credit Checks Than Any Other Sector

Overview

The business information firm, which supplies company credit data online, revealed that 80 per cent of the most searched companies on its site last year were from the construction sector.

The most searched organisation by those filing credit reference and company checks in 2014 was builders’ merchant, Travis Perkins, with 17 per cent more searches than the second placed business, Farnrise Construction.

Farnrise Construction was in fact the most searched for company in 2013 and in April 2014 it went into administration after a turbulent period of cashflow problems.

Balfour Beatty and its Mansell subsidiary ranked fourth and sixth respectively, while Wates Construction and Morgan Sindall were the other main construction names within the top 10 subject to ‘above average’ credit checking in 2014.

The only two firms to break up construction’s dominance in the top 10 were supermarket giant, Tesco and office equipment supplier, Spicers.

Rachel Mainwaring, UK operations director, Creditsafe, said: “Companies operating in construction and infrastructure are likely to come under particular scrutiny from credit and finance professionals due to the volatility of those industries, which are extremely sensitive to house price movements and large scale public sector investment.

“The research highlights the importance of regularly checking the financial performance of both newly incorporated and seemingly well-established enterprises.

“Farnrise’s collapse into administration highlights that even firms with a 20-year history with millions of pounds of revenues remain vulnerable to cashflow pressures.”

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